Nigeria and Saudi Arabia have renewed plans to build the capacity of both nations geological agencies by leveraging on the breakthroughs recorded by Saudi firms in mineral exploration.
Saudi Minister of Mining, Bandar Al-Khorayef, who stated this during the Future Minerals Forum, FMF, in Riyadh, Saudi Arabia said the government and the private sector were working together to introduce new technologies for mineral exploration.
Al-Khorayef emphasized that new products were on exhibition at the conference for patronage and to raise awareness of their applications.
On his part, the Minister of Solid Minerals Development, Dr Dele Alake, who initiated the talks with a proposal for both countries to collaborate on areas of economic advantage stressed that Nigeria and Saudi Arabia can form partnerships based on the sector’s value chain.
Dr. Alake while using Saudi Arabia’s famous gold market as an example said Nigeria’s gold refineries could gain access to the Saudi market under protective clauses, guaranteeing both economies’ expansion opportunities.
The Minister of Solid Minerals development affirmed that partnership with Saudi investors would encourage the export of finished industrial inputs
The minister listed laboratories for the separation and analysis of mineral samples among facilities in Nigeria to ease mining projects, adding that Nigeria has the best certified laboratories for minerals in West Africa.
The Minister, accompanied by his counterpart from finance, Dr Doris Uzoka-Anite, and Directors-Generals of the ministry’s agencies, also met officials of the Saudi Chamber of Commerce, canvassing for their investment in Nigeria’s mining sector by leveraging on the large deposits of lithium and iron ore, which are being processed in line with the administration’s value addition policy.
She promised to authorise the Nigerian Geological Survey Agency, NGSA, to provide relevant data on their minerals of interest.
